Pensions for Cook County employees under attack
Call state lawmakers now – tell them to OPPOSE SB 843
Tell your representative you oppose President Preckwinkle’s plan
to cut County pension benefits!
Call toll-free: 888-912-5959
Despite a Supreme Court ruling indicating ironclad constitutional protections for public employee pension benefits, Cook County President Toni Preckwinkle is once again pushing a plan in the General Assembly that would make steep cuts to the retirement benefits of most County employees.
The legislation, SB 843, was approved by the House Pension Committee on Wednesday and could go before the full House soon. It incorporates many of the same pension reductions the Preckwinkle administration has pushed in previous legislative sessions, including:
- Reduction in the annual cost-of-living adjustment (COLA). The current 3% compounded would be reduced to the higher of 2% or ½ CPI, compounded.
- COLA would be delayed by one year for new retirees.
- COLA would be suspended if the funding ratio falls to 59%.
- Higher retirement age.
- Reduction in the funding formula (service multiplier) from 2.4 to 2.3 for all years going forward.
- Service multiplier is reduced to 2.2 if funding ratio falls to 59%.
- Final Average Salary (FAS) would be based on highest consecutive 8 years instead of 4 years.
- Employee contributions would increase by 1% in 2015 and an additional 1% in 2016.
AFSCME was successful in blocking this measure last year because of the grassroots pressure that union members brought to bear. That same kind of grassroots lobbying effort is now needed again. Make sure you call your state representative immediately to let him or her know that you oppose President Preckwinkle’s plan to cut County pension benefits.
Remind your legislators about labor’s recent state Supreme Court victory, in which the justices unanimously ruled that public employee pension benefits are protected by the Illinois constitution.
Call your state representative today to urge him or her to oppose SB 843 – you can use the toll-free AFSCME legislative hotline by calling 888-912-5959.